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Host Marriott Corporation Announces Quarterly Dividends On Common and Preferred Shares

Host Marriott Corporation Announces Quarterly Dividends On Common and Preferred Shares

09/19/2001
PDF Version

BETHESDA, Md., Sept. 19 /PRNewswire/ -- Host Marriott Corporation (NYSE: HMT) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.26 per share of common stock. The dividend is payable on October 12, 2001 to shareholders of record on September 28, 2001.

Host Marriott Corporation indicated that Host Marriott, L.P., the operating partnership in which Host Marriott owns approximately 92% of the interests and serves as general partner, declared a regular quarterly cash distribution of $0.26 per unit of partnership interest. The Host Marriott, L.P. distribution is payable on October 12, 2001 to partners of record on September 28, 2001.

Host Marriott Corporation also announced that its Board of Directors declared dividends for the Company's Class A Cumulative Redeemable Preferred Stock, Class B Cumulative Redeemable Preferred Stock and Class C Cumulative Redeemable Preferred Stock to shareholders of record on September 28, 2001. Cash dividends of $0.625 per share of Class A, Class B, and Class C will be paid on October 12, 2001.

In making these announcements, Christopher J. Nassetta, President and Chief Executive Officer, stated, "Obviously, the tragic events of the past week coupled with the already weak operating environment will impact our fourth quarter and full year results and will need to be taken into account before establishing our fourth quarter dividend. We intend to provide additional information on our operations during our third quarter conference call, scheduled for October 18th."

Host Marriott Corporation is a lodging real estate company, which owns 125 upscale and luxury full-service hotel properties primarily operated under Marriott, Ritz-Carlton, Four Seasons, Hyatt, Hilton and Swissotel brand names. Host Marriott, L.P. is the operating partnership of Host Marriott Corporation. For further information on Host Marriott Corporation, please visit the Company's website at http://www.hostmarriott.com . 

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SOURCE Host Marriott Corporation

CONTACT: Greg Larson of Host Marriott Corporation, +1-301-380-2076/